US has lifted sanctions on Russian oil

"To increase the global supply of existing supplies, the US Treasury Department is granting temporary permission to countries to purchase Russian oil that is currently stuck at sea. This limited, short-term measure applies only to oil that is already in transit and will not provide significant financial benefit to the Russian government," said US Treasury Secretary Scott Besent.

The US Treasury Department is allowing the delivery and sale of Russian oil and petroleum products loaded onto ships as of March 12. The license will be valid until midnight on April 11, Washington time.

Photo: Channel 24.